The moment that your first professional paycheck enters your bank account can be a euphoric experience. Finally you can trade in those frozen pizzas and microwavable popcorn for some real food! However, this new cash flow can also be overwhelming - post-university life comes with a host of additional financial and social responsibilities.
A recent survey conducted by GK Roper revealed that nearly 55% of respondents reported hiding some aspect of their finances from their spouse or significant other. Few would argue that financial infidelity is as devastating as a marital infidelity, but most would agree that deceit is deceit, which leads to an evaporation of trust no matter where it comes from.
What to do when Your Adult Child Comes Looking for a Loan
It’s an unfortunate sign of the times that an increasing number of adult children, caught in the convergence of a sluggish economy, a slow job market, and tight lending, are turning to the Bank of Mom and Dad for financial help.